sale ends this week

The tin price overnight finished up at US$23,150, making it approximately Au$25,431/t with the exchange rate at 0.9103.

Given the NPV of $110 million was based on Au$24,000 and 0.95, then significant value has been added. In US dollars, the base rate is US$22,800. That's another US$350/t to the bottom line, or Au$384/t.

Given an expected production rate of 3000 tonnes per annum, it equates to an extra $1 million per year.

With copper also up last night, the near-term cash flow from the SPM operations due in Q1, 2014 has also increased.

For long-term traders, CSD is expected to be producing tin by the end of 2014. The share price has tanked as the market was disappointed that the company picked up a 1 Mtpa mill/concentrator for a third of its value, paying 285 million shares, and suring up its future???

Obviously, the next step is crucial, with the $76 million CAPEX funding needs to be finalised. It is hoped an overseas kiln would welcome our ore, noting that one of the reasons CSD's product is worth mining is the iron ore and fluorite by-products. If this is the case, then the CAPEX will be significantly reduced and the rest should be able to be covered with low-cost funding.

To me, I see real long-term value with reduced risk, especially if the tin price continues moving up.

:-D